ICC YAAF: Interest in International Arbitration – A Practical Guide for Young Practitioners

Why is the topic of interest in international arbitration so interesting (pun intended)? Because it is a topic that often receives little attention from counsel but that may be of key importance for parties. Join us for a crash course on this topic and become the go-to person in your team for all matters related to interest!

Time is money, we often hear. But this saying has real ramifications in the world of international arbitration which we often overlook or relegate for the final stages of the analysis of a case. Indeed, we have grown so accustomed to thinking of arbitration as a speedier method for resolving disputes, that we perhaps downplayed the importance of time and, in particular, of interest, in the context of a dispute.

However, the recent decision rendered by a U.S. Court against Argentina has come to show how unwarranted those assumptions were. On 8 September 2023, a U.S. Court ruled that Argentina would have to pay $16 billion to minority shareholders of YPF arising from the government's 2012 seizure of a majority stake in the oil and gas company. Out of the total amount awarded, approximately $8.4 billion are damages sought, and about $7.6 billion are 8% prejudgment interest running from 3 May 2012, a few weeks after the seizure.

If you need more convincing on the present-day importance of this topic, come join us for a discussion and become the go-to person in your team for all interest-related matters.

This YAAF event is being organized at the occasion of the 3rd ICC Iberian Arbitration Day, taking place this year in Lisbon on 17 November 2023. It will offer networking opportunities for lawyers, arbitrators, in-house counsel from Portugal, Spain and Andorra. Learn about recent trends in international arbitration such as force majeure and dissenting opinions, as we celebrate and reflect on the ICC Court’s centenary.